5 Money Management Tips for Your trading

Money Management Tips

Money management is an important part of Forex trading. You know that Forex trader can’t always win nor loss. So They have to manage their money when They’re on the game. Here are some tips to help you practice proper money management.

1. Stop Loss have to be placed as soon as You’re execute your trading. This is a good psh on your mentality as sometime Your emotion can’t do that.

2. If You’re a mini account holder, the rule of 2% of your equity is not true. I can say that You can risk to 5-10 % of your equity but please remember one thing. Please be selective with Your trades.

3. All Your trade have the same potential risk and gain. So You should control not to be tempted with sure fire trade. DOn’t get tempted with big profit and bet your money on that.THis is a trade not a gambling.

4. You can risk more when You’re winning and have profit, but You must be careful when You’re in loss. One simple term is keep Your equity with You. So You can risk your winning for more profit but You should keep the core equity so You can trade again when You loss someday.

5. Make Sure You have a good stop loss and take profit plan based on the big trend that You have. Even if You’re in the right trend You should prepare your stop loss and take profit so You’re not in the random of trade. You have a big picture of that trade.

Try to practise these tips and I’m sure You will add more winning to your trade as money management is one of the forex online trading soul. So please don’t get close your eyes on money management things.

So begin practice this and get profit…

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